Earlier this month the Credit Suisse Global Wealth Report 2012 was unveiled, maintaining Australia at the top of the table for global median wealth and second only to Switzerland for average wealth.
Australia’s global median wealth, i.e. the midpoint between the richest adult to poorest was US$194,000. Compared to other countries, Australia has very few adults with a net worth less than $100,000 due to factors such as relatively low levels of credit card debt & student loan debt.
Exchange rates reduced Australia’s average wealth by 11 per cent to US$354,986, but despite the decline only dropped below Switzerland with an average of US$468,186.
The report found that over the past year, that Asia Pacific has overtaken Europe as the world’s largest wealth-holding region after Europe lost almost US$11 trillion in the value of household assets due to the sovereign debt crisis.
The Credit Suisse Global Wealth Report 2012 was compiled by measuring the wealth of 4.6 billion adults globally.